Indices got a huge boost from ECB where a pledge was made for buying short term bonds with "no limit".
S&P 500 & Nasdaq closed @ "absolute high of the day"...DOW closed few ticks from absolute high....all on higher volume.
S&P 500 closed @ new multi-year high @ 1432.12
RSI @ 67.38
CMF @ 0.190
Internals were :
UP volume led by 13.72 to 1 in NYSE & 7.72 to 1 in Nasdaq
Advancing stocks led by 3.82 to 1 in NYSE & 3.74 to 1 in Nasdaq
New net 52 wk highs were leading by 280 in NYSE & 152 in Nasdaq
VIX down 12.06% @ 15.60
Stocks which were UP 3% or more included LVS,LEN,
JCP,KORS,COH,CMG,LNKD,GG,GMCR,LRCX,
MU,SNDK,BRCM,JDSU,CIEN,C,FCX,NVDA,
BWLD,MOS,X,APKT,SINA,MGA,BAC,MS,
GS,IBN......
AH News ADNC Down 53.61%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, all indices closed @ multi-year highs,Just about every index closed @ absolute high of the day. The way we closed, there is more highs to come, technically indices are in overdrive. Jobs report MAY get us in "further euphoria"...IF that happens, it will be wise to book profit by close.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hey Saleem,
P down 4.5% in late after hours on a WSJ article that Apple is looking to create a Pandora rival...more "good" news for me tomorrow! (All because of Apple too!) Downside could be $3+ possibly.
Other than my two debacles, go market! :)
Stocktrader
Hi Stocktrader,
I am sure you will evaluate P news with "deep analysis"......
Good luck dealing with "some challenging news"
Saleem
SALEEM
Good Morning Sir
Jobs it is all about jobs
Jobs report MAY get us in "further euphoria"...IF that happens, it will be wise to book profit by close. Now I really agree with this sentiment
Some rumors say a neutral number
We will see in 10 minutes
I do not have a plan on what to sell, sell most if stocks or a portion of each ---- all the losers or all my gainers?
Have a great weekend
C
PS
Gotta get my bridge fixed by the dentist--Off I go Geeez
Hey Saleem,
What do you think about SNDK? Based on OCZ and the general landscape, NAND flash is in short supply. This might be the way to play the phone and tablet revolution? I don't like straight commodity businesses, but I'm trying to find a new stock for my theme. Thanks for the look!
Stocktrader
Hi Stocktrader,
I looked @ SNDK & MU the two beneficiary of OCZ issues....
SNDK trading @ 14.62 PE MU trading @ 37 PE....
SNDK expected to earn $3.01 vs 18 cents for MU....
SNDK RSI 63.47..CMF almost flat & improving fast.....
SNDK looks very good......
Saleem
Hi C,
I know you cannot talk after your visit with dentist....
Jobs report came in short of 125k..but still growing.....
My theory is for "booking profit"..NOT booking losses.....
Switching to better stocks is what i do all the time..which entails booking loss also.
Good luck with your OWN strategy.
Saleem
Hey Saleem,
Sold my P at 10.35. The stock will be volatile as hand-in-hand with AAPL entering the game is a chance P gets bought out. For me though, I can't hope for that kind of chance while AAPL is making strides.
Bought SNDK at 43.80. For now, this is my way to play the phone/tablet revolution, and the chart is breaking out. I'll have to do more research over the weekend, but this is where I will start.
Stocktrader
Hi Stocktrader,
First time our purchase & price matched 100%.....
Also bought SNDK @ $43.80....
Saleem
Hey Saleem,
Pared back my PANW at 70.23347 to more equal weight with other positions. Bought SNDK at 43.71 to bring it up to full weight.
Stocktrader
He
Saleem
Yes the dentist was a mouth full
Smile
The jobs numberThe Labor Department reports nonfarm payrolls rose by 96,000 in August from July, less than the 125,000 expected. The unemployment rate unexpectedly fell to 8.1% from 8.3%, with the labor force participation rate hitting 63.5%, the lowest level since September 1981
But BBB may offer QE3---who knew?
I amy wait to sell my stuff--MS is strong today
SCCO is up 5% My real dog is ERF
Thanks of advice on selling --I like you advice.....
thanks again for help and your hard work on the blog
C
Hey Saleem,
Sold ADNC at 5.90103 (wow!) and bought PFPT at ~13.41 avg.
Stocktrader
Hi Stocktrader,
Good luck with your new buys.....
Sometimes "negative scenarios" do come into plays.....
Saleem
Hi C,
Thanks for your kind words.
I am really happy that MS & SCCO are bringing "smile" even after dentist visit.
Saleem
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